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ActionsThe Capital Market Authority Licenses Himmah Capital investment Company to Conduct Arranging and Advising Activities in the Securities Business and its Completion of the Commencements of Business Requirements
In accordance to the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H and its Implementing Regulations, the Capital Market Authority announces that Himmah Capital investment Company has completed the commencements of business requirements to conduct Arranging and Advising Activities in the Securities Business licensed as per CMA resolution dated 29/07/1444H corresponding to 20/02/2023G.
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Saudi Exchange Company Announces the Publishing of the Draft Amendments to the Exchange Rules and Procedures for Public Consultation
As part of Saudi Exchange Company commitment to involve all concerned and interested parties to participate and share their views on the regulatory framework, the Saudi Exchange Company announces the publishing of the Draft Amendments to Exchange Rules and Procedures for public consultation, which can be viewed through the following link: •   The Draft Amendments to the Exchange Rules and Procedure (Click Here). The draft proposed amendments aim to solve the impact of splitting the nominal value of listed companies' shares, in addition to enhancing the market efficiency through amending tick sizes in the Main and Parallel Markets except debt instruments in line with market dynamics. Saudi Exchange Company would be pleased to receive your feedback and observations no later than 14/12/2024G corresponding to 13/06/1446H through the following email: Public.Consultation@tadawulgroup.sa All opinions and observations shall be considered and assessed during the process of issuing the final versions of the documents.
01/12/2024 15:48:17 -
The Saudi Exchange announces the beginning of the subscription period and tradable rights trading for Walaa Cooperative Insurance Co.
The Saudi Exchange announces the beginning of the subscription period and tradable rights trading for Walaa Cooperative Insurance Co., which starts on Monday 02/12/2024G. The trading period shall end on Monday 09/12/2024G, while subscription will remain until Thursday 12/12/2024G. To view the tradable right's intrinsic value and the daily tradable rights fluctuation limits after the end of the trading session Click Here. It is important to note that the fluctuation limits for trading tradable rights are different from the company's fluctuation limits of share price. For more information about tradable rights Click Here.
01/12/2024 15:37:09 -
The Securities Depository Center Company (Edaa) Announces the Deposit of Walaa Cooperative Insurance Co. Tradable Rights
The Securities Depository Center Company (Edaa) announces the deposit Walaa Cooperative Insurance Co. tradable rights into the Center’s Accounts of eligible securities’ holders today 29/05/1446H, corresponding to 01/12/2024G.
01/12/2024 08:42:21 -
The Capital Market Authority Launches Enhancements for Listed Companies’ Share Buyback and Sale Processes
The Capital Market Authority's Board approved an amendment to the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, which will come into effect upon publication. The approved amendment aims to provide greater flexibility for listed companies in share buyback and sale operations by easing restrictions. This improvement aims to boost investment efficiency in the Saudi capital market while aligning with relevant global practices. The amendment provides greater flexibility for listed companies by developing the provisions regulating listed companies' shares buy-back or sale. It stipulates that daily share buybacks must not exceed 25% of the average daily trading volume of the company's shares over the last five trading days preceding the purchase. Similarly, the sale of treasury shares in a single trading day must not exceed 25% of the average daily trading volume of the company's shares over the same period. Private buy and sell transactions are excluded from the calculation of the daily trading volume. Additionally, the amendment extends the period during which the Board may be authorized to execute share buybacks to 18 months. The previous version of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies specified the approved quantity of the company's shares that could be bought or sold by the company itself in a single trading day. These quantities included either the buyback amounts determined and approved by the extraordinary general assemblies of listed companies or the treasury share sale amounts set and approved by the Board, provided they did not conflict with the extraordinary general assembly's decision regarding the buyback of these shares. The regulations required the Boards of Directors to complete the buyback process within a maximum of 12 months from the date of the general assembly's decision. The project to amend the Implementing Regulation of the Companies Law for Listed Joint Stock Companies stems from the Capital Market Authority's commitment to developing the capital market and regulating trading operations, whether in the buyback or sale of treasury shares by listed companies. It is noted that on June 6, 2024, the Capital Market Authority published the draft amendment to the Implementing Regulation of the Companies Law for Listed Joint Stock Companies on the Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform) affiliated to the National Competitiveness Center and the CMA's website for public consultation. The Implementing Regulation of the Companies Law for Listed Joint Stock Companies can be found at the following link: The Implementing Regulation of the Companies Law for Listed Joint Stock Companies
28/11/2024 21:17:53 -
The Securities Depository Center Company (Edaa) Announces Implementing a Corporate Action on Almuneef Company for Trade, Industry, Agriculture and Contracting Securities
The Securities Depository Center Company (Edaa) announces implementing a stock split on Almuneef Company for Trade, Industry, Agriculture and Contracting Securities resulted from adjusting the face value today, 26/05/1446H, corresponding to 28/11/2024G on the Center’s Accounts of eligible securities’ holders.
28/11/2024 08:39:55